Specialty Retail company Ethos announced Q3FY24 & 9MFY24 results: Q3FY24 Financial Highlights Revenue reached Rs 281.2 crore, marking a strong growth of 22.4% YoY. EBITDA amounted to Rs 50.8 crore, with an impressive EBITDA margin of 17.7%. PAT increased to Rs 25.5 crores in Q3FY24, compared to Rs 20.7 crore in Q3FY23. The company sustained excellent growth in quarterly EBITDA & PAT in Q3FY24, driven by robust demand and focused marketing initiatives. Witnessed strong revenue growth across offline and online channels. The higher share of in-house brand sales continued to support margin expansion. EBITDA margin saw expansion due to cost optimization initiatives and operating leverage benefits. 9MFY24 Financial Highlights Achieved revenue of Rs 746.5 crore, reflecting a substantial 28.5% YoY growth. EBITDA stood at Rs 130.9 crore, with an EBITDA margin of 17.2%. PAT grew to Rs 62.3 crore in 9MFY24 from Rs 47.0 crore in 9MFY23. Recorded the highest-ever EBITDA & PAT in 9MFY24, supported by robust demand and focused marketing initiatives. Continued to witness strong revenue growth across offline and online channels. The higher share of in-house brand sales continued to contribute to margin expansion. EBITDA margin saw expansion due to cost optimization initiatives and operating leverage benefits. Pranav Saboo, Chief Executive Officer, Ethos, states, "Ethos has experienced substantial growth in the last quarter, and we are committed to sustaining and amplifying this momentum. Looking ahead, we are confident that, with strategic plans, we will be achieving long-term development and deliver continued value to all stakeholders." Result PDF
Conference Call with Ethos Ltd. Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Ethos Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Specialty Retail firm Ethos announced Q4FY23 & FY23 results: Q4FY23: Revenue of Rs 207.6 crore with 30.8% YoY growth EBITDA of Rs 30.5 crore with EBITDA margin of 14.3% PAT grows to Rs 13.3 crore in Q4FY23 vs Rs 7.8 crore in Q4FY22 Company continued to show excellent growth on quarterly EBITDA & PAT in Q4FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels Higher share of in-house brand sales continues to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits FY23: Revenue of Rs 788.5 crore with 36.6% YoY growth EBITDA of Rs 129.0 crore with EBITDA margin of 16.1% PAT grows to Rs 60.3 crore in FY23 vs Rs 23.4 crore in FY22 Company recorded its highest ever EBITDA & PAT in FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels Higher share of in-house brand sales continue to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits Pranav Saboo, Chief Executive Officer, Ethos, said, “Results from the last quarter have been extremely encouraging, with a boost in both revenue and profitability. The numbers reflect the growing appreciation towards the art of watchmaking and haute horology across the country. The last year has been a record year and I thank all our stakeholders for their belief in us” Result PDF
Specialty retail firm Ethos Q3FY23 results: Q3FY23: Revenue of Rs 229.7 crore with 17.6% YoY growth. EBITDA of Rs 39.5 crore with EBITDA margin of 16.9%. PAT grows to Rs 20.7 crore in Q3FY23 vs Rs 12.1 crore in Q3FY22. The company continued to show excellent growth in quarterly EBITDA & PAT in Q3FY23 on the back of robust demand and focused marketing initiatives. Strong revenue growth across offline and online channels. Higher share of in-house brand sales continues to aid margin expansion. EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits. 9MFY23: Revenue of Rs 581 crore with 38.8% YoY growth. EBITDA of Rs 98.5 crore with EBITDA margin of 16.7%. PAT grows to Rs 47 crore in 9MFY23 vs Rs 15.5 crore in 9MFY22. The company recorded its highest-ever EBITDA & PAT in 9MFY23 on the back of robust demand and focused marketing initiatives. Strong revenue growth across offline and online channels. The higher share of in-house brand sales continue to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits. Mr. Pranav Saboo, Chief Executive Officer, Ethos Limited said, “The revenue growth, growth in profit and more exclusive partnerships signed in this quarter show the tremendous potential of finely crafted timepieces, luxury products and Ethos, to deliver long-term value creation for all stakeholders. As we mark our 20th anniversary, we are proud of our long-standing relationships with our employees, brands, location partners and our valued customers. Our focus on every stakeholder will continue as we start the third decade of Ethos Limited” Result PDF
Retail firm Ethos announced Q2FY23 results: Q2FY23: Revenue of Rs 177.7 crore with 32% YoY growth EBITDA of Rs 29.7 crore with an EBITDA margin of 16.4% PAT grows to Rs. 13.6 crores in Q2FY23 vs Rs. 2.7 crore in Q2FY22 The company continued to show excellent growth on quarterly EBITDA & PAT in Q2FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels The higher share of in-house brand sales continues to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits H1FY23: Revenue of Rs 351.3 crore with 57% YoY growth EBITDA of Rs 59.2 crore with EBITDA margin of 16.6% PAT grows to Rs 26.4 crore in H1FY23 vs Rs 3.5 crore in H1FY22 Company recorded its highest ever EBITDA & PAT in H1FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels Higher share of in-house brand sales continue to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits Mr. Yashovardhan Saboo, Managing Director and Chairman, Ethos Limited said, “This quarter has again reinforced our belief in the strong growth that we witnessed over the last few quarters. It shows a consistent trend, that reflects the transformation of the Indian market for luxury watches, with Ethos as the reference. Our portfolio of brands and assortment of products, best-in-class customer services, globally competitive prices, and the trust that the Ethos name evokes are all coming together to create an environment of sustained growth and profitability.” Result PDF
Ethos Announced Q1FY23 Result : Company recorded its highest ever quarterly EBITDA & PAT in Q1FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels Higher share of inhouse brand sales continue to aid margin expansion EBITDA Margin continue to expand on the back of cost optimization initiatives and operating leverage benefits Result PDF